Brokerages Set MetLife, Inc. (NYSE:MET) Target Price at $88.62

MetLife, Inc. (NYSE:MET) has been given a consensus rating of “Buy” by the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $88.62.

A number of equities analysts have recently commented on MET shares. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Morgan Stanley dropped their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Barclays decreased their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd.

Hedge Funds Weigh In On MetLife

A number of hedge funds and other institutional investors have recently made changes to their positions in MET. PFG Investments LLC lifted its stake in MetLife by 8.9% during the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 520 shares during the period. M&G Plc acquired a new stake in MetLife in the 2nd quarter valued at $2,346,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in MetLife in the third quarter valued at $2,960,000. Segall Bryant & Hamill LLC acquired a new position in MetLife during the third quarter worth $1,074,000. Finally, PGGM Investments lifted its holdings in shares of MetLife by 1,803.4% during the second quarter. PGGM Investments now owns 69,796 shares of the financial services provider’s stock valued at $4,899,000 after acquiring an additional 66,129 shares during the period. 94.99% of the stock is owned by institutional investors.

MetLife Stock Performance

Shares of NYSE MET opened at $82.99 on Monday. The business’s 50-day simple moving average is $83.77 and its 200-day simple moving average is $77.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a 52 week low of $64.61 and a 52 week high of $89.05. The firm has a market cap of $57.46 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 0.74 and a beta of 1.06.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.63%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.